SpareBank 1 Østfold Akershus (SOAG) Fair Value & Analysis

Financial Services · NO · Market cap 5.3B NOK

A solid business, screening 60% undervalued on our models.

What matters now

• The price is below even our cautious bear case (kr 517.10). The market is more pessimistic than our downside scenario.
• Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality.
• For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range kr 208.53 – kr 475.00 · fair‑value band kr 517.10 – kr 861.84 · the kr 430.05 price screens below the kr 689.47 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

Full chart & analysis →

Which stocks are undervalued right now? Check free Discover now →

Analysis

SpareBank 1 Østfold Akershus (SOAG) currently trades at kr 430.05, while our model-based Fair Value estimate is kr 689.47, implying the stock looks roughly 60.3% undervalued today. The Quality Score stands at 60/100 (solid quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, SpareBank 1 Østfold Akershus generated revenue of 1.4B NOK at a net margin of 47.9%. Revenue grew 12.1% year over year. It earns a return on equity of 12.8%. Net debt stands at 4.7B NOK. Fundamentals as of Jul 16, 2026

Our scenario range runs from kr 517.10 (bear case) to kr 861.84 (bull case); at kr 430.05, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 10% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 42% fair-value upside, at 60%, SOAG screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Multiples (kr 595.14) versus Asset-Based (kr 284.82). Highest evidence: Residual Income (76).

Key figures & financial health

Quality Score breakdown

About the company

SpareBank 1 Østfold Akershus operates as a savings bank that provides various banking products and services in Norway. It offers savings in funds; savings accounts; savings for children and retirement; and stocks and investment products.

Full company description

SpareBank 1 Østfold Akershus operates as a savings bank that provides various banking products and services in Norway. It offers savings in funds; savings accounts; savings for children and retirement; and stocks and investment products. The company also provides mortgage, car, moving, consumer, vehicle, green, and transferring loans, as well as refinancing of mortgage and consumer debt; financing services, including overdrafts, leasing, business loans, bank guarantees, construction loans, growth guarantee schemes, operating credit for agriculture, factoring, and invoice sales. In addition, it offers pension products; car, home, personal, pet, vehicle, travel, machinery, building, employee and personal, and farm and agricultural insurances; and property services. Further, the company provides mobile and online banking; bank card and credit card; and pay and transfer services. SpareBank 1 Østfold Akershus was founded in 1835 and is based in Moss, Norway.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

SpareBank 1 Østfold Akershus reported revenue of kr 1.2B in FY2025 versus kr 813M in FY2021, a compound +11.0%/yr. Reported net income was kr 657M in FY2025, compounding +10.4%/yr from FY2021.

Watch SOAG: get an alert when its fair value changes →

Peer Group

Banks - Regional · 1083 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation Multiples vs Banks - Regional median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Explore undervalued stocks

More undervalued Financial Services stocks →

Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.